Q&A: Now that home values are down due to recession… Does that mean your property taxes should be lowered ?

Question by Spanki: Now that home values are down due to recession… Does that mean your property taxes should be lowered ?
State counties are quick to raise property taxes when home values appreciate in price. How about when property value depreciates?

Best answer:

Answer by dan h
most cities will not lower them unless you go to your city assesor office.the best way to fight it which i did was pay for an appraisal which cost around 300-350 and take it to the city .that is how i lowered my taxes.when i bought my home 4 years ago it was worth 300000 i just had it appraised for 180,000. lol crazy.but the city did loer my taxes to the appropiate amount

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4 Comments → “Q&A: Now that home values are down due to recession… Does that mean your property taxes should be lowered ?”


  1. Reverend Al Po

    Oct 07, 2013

    Absolutely – our property taxes should be lowered. However, our big-spender governments won’t do the right thing and we won’t win tax appeals because the system is corrupt and rigged against the homeowner.


  2. Judy

    Oct 07, 2013

    To get your assessment lowered, you have to show that your property is assessed higher than other comparable homes. If everything is down, no you can’t.


  3. Karen L

    Oct 07, 2013

    I don’t know if it’s the same everywhere(I know California is different), but the way property taxes work where I live, you pay less tax if your house is worth less. Every year, your house is assessed at an amount which is supposed to be close to its market value. Then the tax rate is set for that year—it changes very little, usually— and the amount of tax you pay is calculated. If your house is valued at $ 100,000 and the rate, known as a mill rate, is 2.5%, you pay $ 2500. Therefore, a rise or fall in house prices automatically results in higher or lower taxes. If house values fall so far that a city finds it won’t collect enough money, it can raise the mill rate, but the outcry usually prevents them from raising it much. If house prices soar, and people start complaining that they’ll pay too much tax, the rate can be lowered for that year. And if you feel that your house has been assessed too high, you can appeal the assessment.


  4. HeyDonny

    Oct 07, 2013

    Friends and I have discussed this with the thought being they should.
    I’ve also recently argued with my insurance company over raising my home owners policy rates. They say my home is worth 25,000.00 more than last year.
    I told them to find me the buyer, because I’ll sell.
    Of course they didn’t lower my rate, so I’m looking for a new insurance company.


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